Tuesday , January 23 2018
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Fintech as a gateway for criminal enterprise

Summary:
Fintech comes in many shapes and sizes. One particularly hot area of focus, however, is money transmission and currency exchange.There are three reasons why fintech businesses are greatly attracted to this area. One, the barriers to entry are extremely low. Two, it’s easy to look technologically innovative (by offering seriously reduced prices) when really all you’re doing is undercutting competition and/or spending a lot more on marketing than the competition. Three, there’s a general perception customers are being ripped off in the sector, which makes for a compelling marketing narrative.But there’s more to it than that. As we’ve long argued, a security/access paradox applies to fintech. This is especially the case for “fintech” catering to the money services sector. If the sector is

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Fintech comes in many shapes and sizes. One particularly hot area of focus, however, is money...

Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

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